GBP/USD Open 1.4461 High 1.4526 Low 1.4352 Close 1.4469
On Tuesday Pound/Dollar decreased with around 170 pips, in line with negative Interbank sentiment at around -46%. The Cable depreciated from 1.4526 to 1.4352, closing the day at 1.4469. Today movement is hesitant so far, and without clear direction. First resistance is yesterday’s top at 1.4526. Break above it should extend the bullish movement further towards 1.4678. The nearest support is yesterday’s bottom at 1.4352. Going bellow it should extend British Pound’s reduction further down towards next downward objective 1.4220. Today is the UK Trade in goods, Non-EU trade and BoE meeting beginning at 8:30 GMT. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and rising, MACD is neutral and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 1.4526 1.4678 1.4800
Technical support levels: 1.4352 1.4220 1.4100
Trading range: 1.4435 – 1.4510
Buy at 1.4449 SL 1.4419 TP 1.4499
Written by iFOREX.bg